An Example of Good Internal Controls Over Cash Payments Is

question 13

True/False

An example of good internal controls over cash payments is the taking of all cash discounts offered.

Recognize the scope and limitations of client confidentiality and the paralegal’s role in maintaining it.

Identify the exceptions to the rule of client confidentiality.

Differentiate between attorney-client privilege and work product doctrine.

Explain the legal and ethical implications of breaches in client confidentiality.

---

Definitions:

Tax-Deductible Expense

An expense that can be subtracted from gross income to reduce taxable income.

Corporation

A legal entity that is separate and distinct from its owners, who are known as shareholders.

Bonds

Long-term debt securities issued by corporations or governments to finance operations, projects, or other capital needs, paying periodic interest and the principal amount at maturity.

Stock

Stock represents ownership shares in a corporation, giving holders a claim on part of the company's assets and earnings.